Cleveland-Cliffs Posts Q4 Adjusted EBITDA Loss of About $85 Million
Cleveland-Cliffs released preliminary fourth-quarter and full-year 2024 results, showing an approximate $85 million adjusted EBITDA loss for Q4 and approximately $775 million for the full year on revenue of approximately $19.2 billion. The company also priced an upsized $850 million offering of 7.500% senior guaranteed notes due 2031, with closing expected February 6, 2025, and says the proceeds will repay borrowings under its asset-based credit facility. The preliminary figures are unaudited, and complete results are due after the market close on February 24, 2025.
Key points
- Q4 2024 preliminary: steel shipments of 3.8 million net tons, revenues of approximately $4.3 billion, adjusted EBITDA loss of approximately $85 million
- Full-year 2024 preliminary: shipments of 15.6 million net tons, revenues of approximately $19.2 billion, adjusted EBITDA of approximately $775 million
- Including Stelco, 2024 pro-forma adjusted EBITDA of approximately $1.2 billion
- $850 million of 7.500% senior guaranteed notes due 2031 priced, upsized from $750 million; expected to close February 6, 2025
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:59 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 03, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.